Earnings can be summed up by three words, Candy Crush Asia.

I wonder how it must feel to be part of the Call of Duty-team and be the least profit contributing division within ATVI. The change has been dramatic.

In Q1 2016 revenues and margins where as follows:

Activision: $360m (28%)
Blizzard: $294m (29%)
King: $207m (32%)

In Q3 2016 revenues and margins where as follows:

Activision: $377m (33%)
Blizzard: $727m (44%)
King: $459m (30%)

YoY revenues grew 58%, the breakdown is as follows:

Americas +61%
EMEA +36%
Asia Pacific +113%

YoY revenues per platform breakdown is as follows:

Console 8%
PC 70%
Mobile +236%

85% of sales are digital, approx. 80% excluding King.

Full year guidance was $6.45bn and EPS of 1.92. That is a P/S of 4.8x and PE around 21.7 (at $41.7 share price)